By Wendy Van Sickle
Columbus, Ohio, June 13 – JPMorgan Chase Financial Co. LLC priced $1.02 million autocallable contingent interest notes due June 14, 2018 linked to the least performing of the common stocks of Apache Corp., Chevron Corp. and Exxon Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 13.35% if each stock closes above its 60% barrier level on a review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final one.
The payout at maturity will be par plus the final coupon unless any stock closes below its barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
J.P. Morgan Securities LLC is the agent.
| Guarnator: | JPMorgan Chase Financial Co. LLC
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| Issuer: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Apache Corp., Chevron Corp. and Exxon Corp.
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| Amount: | $1,015,000
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| Maturity: | June 14, 2018
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| Coupon: | Each quarter, notes pay contingent coupon at annualized rate of 13.35% if each stock closes above barrier level on review date
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| Price: | Par
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| Payout at maturity: | Par plus contingent coupon unless each stock finishes below barrier level, in which case full exposure to decline of least performing stock
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date
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| Initial share prices: | $55.83 for Apache, $102.81 for Chevron and $90.67 for Exxon
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| Trigger prices: | $33.498 for Apache, $61.686 for Chevron and $54.402 for Exxon, 60% of initial prices
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| Pricing date: | June 9
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| Settlement date: | June 14
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 46646EGR7
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